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Monken Hadley leasehold conveyancing Example Support Desk Enquiries

I have recently realised that I have Seventy years left on my lease in Monken Hadley. I now want to get lease extension but my landlord is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. For most situations an enquiry agent should be useful to carry out a search and to produce a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Monken Hadley.

I’m about to sell my garden apartment in Monken Hadley.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

My wife and I purchased a leasehold flat in Monken Hadley. Conveyancing and Halifax mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Monken Hadley who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Monken Hadley conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a busy estate agency in Monken Hadley where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Monken Hadley conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Can you provide any top tips for leasehold conveyancing in Monken Hadley from the point of view of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Monken Hadley can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Monken Hadley charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Monken Hadley.
  • A minority of Monken Hadley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Monken Hadley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    You certainly can. We can put you in touch with a Monken Hadley conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Monken Hadley flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The the unexpired term as at the valuation date was 76 years.